Friday, December 8, 2023

Saudi Arabia Plans to Invest $800 Billion on Riyadh to Make Big Economic Hub by 2030

As part of Saudi Arabia’s plans to transform its capital into a major global city and diversify its economy, Saudi Crown Prince Mohammed bin Salman established a business on Thursday to carry out an enormously ambitious construction in downtown Riyadh.

With a total expenditure of $800 billion, the kingdom hopes to quadruple the size and population of its capital city as part of its Vision 2030 plan to modernize the Gulf Arab nation and lessen its reliance on oil export income.

According to the state news agency SPA, the New Murabba Development Company’s proposal will have more than 80 cultural and entertainment venues, a museum, a technology and design university, a multipurpose immersive theatre, and more.

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